By Lowana Veal
REYKJAVIK (IDN) – “Renewable hydrogen is set to outperform gasoline on a cost basis, due to substantial cost reductions for hydrogen and renewable technologies,” according to Jakob Kropsgaard of Norwegian firm NEL Hydrogen, which delivers solutions for producing, storing and distributing hydrogen from renewable energy
Speaking at a seminar here on alternative fuels for the future at the end of March, Kropsgaard said that “it is possible to produce hydrogen at a cost of 3-5 euros per kg”. When used for fuel, hydrogen is measured in kilos rather than litres.
Nevertheless, according to Valgeir Baldursson, CEO of Skeljungur oil company, “consumption of hydrogen fuel at the moment is not sufficient to produce a low price. The current cost in Europe is about 10 euros per kg.”